Published by:Rachel McGuire<>
20 May 2025 @ 20:55 UTC

Hot-rolled coil prices in the US Midwest inched up on Tuesday May 20 despite an inactive spot market, with buyers expecting prices to decline in the coming months. Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $44.55 per hundredweight ($891 per short ton) on Tuesday, up by 0.16% from $44.48 per cwt on Monday May 19, but down by 2.13% from $45.52 per cwt a week earlier on May 13.
Inputs were collected in the range of $40.00-45.50 per cwt, representing offers and general assessments of the spot market.
Inputs were rolled over in the seller sub-index due to a lack of liquidity.
Heard in the market Weaker demand has reportedly slowed the spot market, amid buyers’ anticipation hot band prices will continue to fall during the summer months. Contract activity is also expected to decrease, a source said. Shorter lead times, cheaper steel scrap prices, along with fewer imports available due to the 25% Section 232 tariffs are pressuring HRC prices, sources said.
Inventory levels are stable and buyers are avoiding imports due to cheaper domestic prices, according to sources. However, domestic service centers are reporting a decrease in sales volumes in April and May compared with March as buyers hold out for cheaper pricing.
Lead times were reported to be between three and four weeks.
Quote of the day Buyers are testing the waters and asking for new pricing, a buyer told Fastmarkets. But [they] have no intention yet on pulling the trigger, as they feel prices are going lower if they wait, they added.